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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Expense Related to Share-Based Payments
The following table summarizes the expense recognized within general and administrative expenses in the Unaudited Consolidated Statements of Income related to share-based payments recognized in the three months ended March 31, 2023 and 2022 (in thousands):
 
 Three Months Ended
March 31,
 20232022
Stock options$8,950 $17,837 
Restricted stock17,146 14,794 
Stock-based compensation$26,096 $32,631 
Summary of Total Unrecognized Compensation Cost Related to Stock-Based Compensation
The following table summarizes the Company’s total unrecognized compensation cost related to stock based compensation as of March 31, 2023 (cost in thousands):
Unrecognized
Compensation
Cost
Weighted Average
Period of Expense
Recognition
(in Years)
Stock options$43,979 2.41
Restricted stock90,216 1.14
Total$134,195 
Summary of Changes in Number of Shares of Common Stock Under Option The following summarizes the changes in the number of shares of common stock under option for the three months ended March 31, 2023 (shares/options and aggregate intrinsic value in thousands):
SharesWeighted
Average
Exercise
Price
Options
Exercisable
at End of
Period
Weighted
Average
Exercise
Price of
Exercisable
Options
Weighted
Average Fair
Value of
Options
Granted 
During the Period
Aggregate
Intrinsic
Value
Outstanding at December 31, 20225,301 $188.12 3,512 $159.46 $113,681 
Granted124 200.41 $67.32 
Exercised(297)146.69 $18,487 
Forfeited(52)244.23 
Outstanding at March 31, 20235,076 $190.27 3,402 $163.91 $178,730 
Expected to vest as of March 31, 2023824 $225.92 
Summary of Changes in Number of Shares of Restricted Stock and Restricted Stock Units
The following table summarizes the changes in the number of shares of restricted stock awards and restricted stock units for the three months ended March 31, 2023 (shares in thousands):
 
SharesWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2022435 $237.68 
Granted324 212.36 
Issued(213)241.28 
Cancelled(7)189.90 
Outstanding at March 31, 2023539 $221.10